SIGN IN SUBSCRIBE

News Update

PLI scheme for electronics manufacturing sees incremental investment of Rs 8,390 CrG20 finance leaders agree to tax super-rich but forum not yet readyDPIIT promotes green logistics industry balancing economic growth and environmentIndia, US ink pact to stymie illegal trafficking of cultural propertyRailways expands tracks by 31,180 kmFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaGovt to enhance reach of Indian Digital Public InfrastructureFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaGovt provides incentives to small tea growersEU penalises 5 countries for infringing budget rulesI-T-Transaction involving transfer of unutilised shares cannot be deemed to be sale of shares so as to attract levy of Long Term Capital Gain u/s 112: ITATChina says Relations with Japan at critical stageST - Once the activity of appellant that is of forfeituring the amount of earnest money is not a declared service, question of retaining said money as consideration for rendering such service becomes absolutely redundant: CESTATEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesFM favours debt reduction but sans affecting economic growthKargil Victory Day: PM warns Pak against practising terrorismChina pumps in subsidies worth USD 41 bn into car sectorMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SC
 
Over 7.85 crore ITRs filed till Oct 31, says CBDT

By TIOL News Service

NEW DELHI, NOV 01, 2023: THE Income Tax Department appreciates taxpayers and tax professionals for making compliances in time, resulting in record number of filing of Income Tax Returns (ITRs) till 31st October, 2023 which was the due date for filing of ITRs(other than ITR 7), for taxpayers (not having any international or specified domestic transaction), in whose case books of account were required to be audited.

The total number of ITRs for AY 2023-24 filed till 31st October, 2023 is more than 7.65 crore, which is 11.7% higher compared to the total number of ITRs of 6.85 crore for AY 2022-23 filed till 7 th November, 2022, the due date for filing such ITRs in the preceding year. Further, total number of ITRs filed in FY 2023-24 for all assessment years upto 31 st October, 2023 stands at 7.85 crore, an all-time high when compared to total number of ITRs of 7.78 crore filed in FY 2022-23.

Out of the 7.65 crore ITRs filed for AY 23-24, more than 7.51 crore ITRs have already been verified. Further, out of 7.51 crore verified ITRs, 7.19 crore have already been processed till 31st October 2023 i.e. almost 96% of the verified ITRs stand processed.

31st October, 2023 was also the due date for filing of some crucial statutory forms like Form 10B, 10BB and Form 3CEB. Total number of various types of statutory forms filed upto 31 st October, 2023 stands more than 1.44 crore.

During the peak filing days the e-filing portal successfully handled the traffic providing a seamless experience to the taxpayers and tax professionals for filing of Forms and ITRs. This was widely appreciated by the taxpayers and professionals on various platforms including Social Media. The support from the helpdesk was provided to taxpayers through inbound calls, outbound calls, live chats, Webex and co-browsing sessions. The helpdesk team also supported resolution of queries received on the Twitter handle of the Department through Online Response Management (ORM), by proactively reaching out to the taxpayers/stakeholders and assisting them for different issues on near real-time basis. 8 webinars related to filing of Auditable & time barring forms, Filing of ITR-3/5/6, DSC registration, Form 10B/10BB filing, etc were conducted to guide the taxpayers and tax professionals. Educational videos pertaining to the same were also uploaded on the e-filing portal.

The Department expresses its gratitude to all the taxpayers and tax professionals for their support in compliances and requests the attention of taxpayers who are yet to file the Forms and ITRs, to file them. The Department urges all taxpayers and tax professionals to continue to make tax related compliances in time.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering

TOP NEWS


AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST